It's that time of year again: time for parents to stock up on gifts for their kids.
And for early-stage startups, it's a great time to get in on the ground floor of the world of toys and children's entertainment.
Per TechCrunch, there are three key areas where startups could make a mark: educational toys, augmented reality storybooks, and sustainable toys.
Read on for the highlights: Educational toys: Grand View Research expects the global educational toys market to be $47.31 billion in 2022 and will maintain a compound annual growth rate (CAGR) of 10%.
For example, Osmo has developed interactive games that use augmented reality and tangible play to enhance children's math, spelling, and critical thinking skills.
AR storybooks: The global market for smart toys is projected to reach $35.5 billion by 2030, and AR books are an interesting niche as they offer an enriching experience by blending the tangible joy of reading with captivating digital enhancements.
Green toys: With parents seeking eco-friendly toys that meet their values, there's room for innovation in crafting toys that not only entertain but also adhere to ethical and sustainable practices.
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